Cordel Group PLC Reissue of Options (2176T)
21 Julio 2022 - 1:00AM
UK Regulatory
TIDMCRDL
RNS Number : 2176T
Cordel Group PLC
21 July 2022
21 July 2022
Cordel Group PLC
("Cordel" or the "Company" or the "Group")
Reissue of Options
Cordel Group PLC (AIM: CRDL), the Artificial Intelligence
platform for transport corridor analytics, announces the
cancellation and re-issue to Michael Turner, Chief Revenue Officer,
of 2,000,000 share options to subscribe for ordinary shares
("Options"), under the Company's Enterprise Management Incentive
("EMI") plan.
Mr Turner was appointed as Chief Revenue Officer on 31 January
2022 and, following completion of his probationary period, is now
deemed by the Company to be a PDMR. Options were granted to him on
2 February 2022, prior to him being deemed a PDMR, however due to
an administrative oversight the required HMRC notification was not
completed and the Options no longer qualify for EMI benefits.
After receiving advice from the Company's auditors, the Company
has cancelled and re-issued the Options on the unchanged terms, as
set out below:
Date Name Position Options Exercise Vesting period
of grant price*
Over 4 years,
Chief Revenue commencing
20.07.22 Michael Turner Officer (PDMR) 2,000,000 8.25p 02.02.23
---------------- ----------------- ---------- --------- ---------------
* Cordel closing price on day prior to original grant
Enquiries:
Cordel Group PLC c/o SEC Newgate
Ian Buddery, Chairman
Nick Smith, CEO
Arden Partners plc Broker +44 (0)20 7614 5900
Ruari McGirr
Strand Hanson Limited Nominated Advisor
Richard Johnson / James Bellman +44 (0)20 7409 3494
SEC Newgate (Financial PR) +44 (0)7540 106366
Robin Tozer / Bob Huxford / George Esmond cordel@secnegwate.co.uk
About Cordel
Cordel produces specialist hardware and software for capturing,
analysing and reporting on large datasets within the transport
sector, employing sophisticated artificial intelligence
algorithms.
Further information on the Company is available at:
www.cordel.ai
PDMR Notification Form:
The notification below is made in accordance with the
requirements of the Market Abuse Regulation:
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Michael Turner
---------------------------------- ----------------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------------
a) Position/status Chief Revenue Officer
---------------------------------- ----------------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------------- ----------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer
or auction monitor
----------------------------------------------------------------------------------
a) Name Cordel Group plc
---------------------------------- ----------------------------------------------
b) LEI 213800ZUBMOCVHSSJC14
---------------------------------- ----------------------------------------------
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument;
(ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
----------------------------------------------------------------------------------
a) Description of the ordinary shares of GBP0.01 nominal value
financial instrument, each
type of instrument ISIN: GB00BYZQM590
Identification code
b) Nature of the transaction Re-issue of options
c) Price(s) and volume(s)
---------------- -------------------------
Price(s) Volume(s)
---------------- -------------------------
8.25p 2,000,000
---------------- -------------------------
d) Aggregated information N/a - single transaction
e) Date of the transaction 20 July 2022
f) Place of the transaction Off Exchange
---------------------------------- ----------------------------------------------
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END
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